Buying a fully imported EV in Malaysia may soon cost more under new government rules

MALAYSIA: “Fully imported” electric vehicles (EVs) in Malaysia are expected to see higher prices after the introduction of a RM200,000 (S$63,207) minimum cost, insurance and freight value per unit, which took effect on Wednesday (July 1) under new rules by the Ministry of Investment, Trade and Industry.

However, vehicles already in the country, including those at local ports or in transit before July 1, can continue to be sold under the old framework.

Under the new rules, imported EVs must also have a minimum power output of 180 kilowatts (245 horsepower), as reported by Malay Mail.

The move is part of Malaysia’s broader push to encourage local assembly and strengthen the country’s automotive industry, while reducing reliance on fully imported vehicles.

This also means lower-cost imported EV models could become less common in the mass market, making them less accessible to average consumers.

Brands such as BYD, Chery, Jaecoo, BMW and Mercedes-Benz with existing CKD (completely knocked down) assembly plants in Malaysia are exempt from the new rules, which allow them to continue offering more competitively priced models.

Meanwhile, tax exemptions for locally assembled EVs will remain in place until Dec 31, 2027.

Currently, over 90 EV models are available in Malaysia. /TISG

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